Extreme Networks plans $28 million annual spending cut

The restructuring plan is expected to result in approximately $7.0 million in reduced quarterly costs once the plan is fully implemented. The company expects to record a charge of approximately $5.5 to $7.0 million in the fiscal quarter ended on December 31, 2012.

The company revised its guidance for the fiscal second quarter ended December 31, 2012 based on the current business outlook and actions taken.

Extreme Networks is a technology leader in high performance Ethernet switching for cloud, data centre and mobile networks. Based in Santa Clara, CA, Extreme Networks has more than 6,000 customers in more than 50 countries. For more information, visit the company's website at http://www.extremenetworks.com
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